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Copper review: non-farm strong dollar pressure on the price drop

by:Deyuan      2020-12-23
Abstract: the stronger than expected U. S. jobs data boosted the dollar, every Zhou Lun copper bearing down 0. 75%; Key Chinese trade data released this week before the market sentiment remained cautious, copper is expected today is small.

today's copper price analysis and forecast:
a.
in the international market the latest U. S. jobs in July than expected, wage growth is accelerated, enhances the growth speed of expectations, the market for the next few months the rate hike expectations have increased. Dollar vibration strong suppression of copper, insulation Zhou Lun copper fell $36, latest closing price to $4796, or 0. 75%; Volume 13677, 357537 holdings of an increase of 808 hands.

the London metal exchange on August 5, according to data released copper inventories to reduce 2650 metric tons to 206650 tons. Cancel the LME copper warehouse inventory than for 22. 24%.

2. Domestic market
1608 contracts opened today Shanghai copper current month 37400 yuan, down 70 yuan, 'Shanghai copper contract offer $1608 to $37380, down 90 yuan. This week is a super week data, the data published in China are: July industrial production, international trade and social financing scale big data; Data before commodity market sentiment, Shanghai copper still is given priority to with consolidation trend, spot copper fell is expected today.

hot financial information
1. New non-farm payrolls in July 25. 180000 50000 people, the better than expected. On July 4 unemployment. 9%, worse than 4. 8% of the expected, with the June data. New employment population from 28 June. 70000 to 29. 20000 people. Federal interest rate futures market, according to the data, the market expected, the federal reserve were 18% more likely to raise interest rates in September, the top 9% of the data level doubled.

2. The bank of England's latest report from a number of indicators to assess the effect of take off the referendum. Decline in demand growth is expected to decline, supply growth will be bigger than the previous evaluation, so as to push up the unemployment rate, restrictions on wage growth. The bank of England's 2016 business investment is expected to - 3. 75% negative growth; The housing investment growth will reduce 1/3, import growth in half and one third jobs growth decline.
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